Short: Waiting for Break 1.1700 and Target 1.1560$ and 1.1480$
Technical Analysis of EUR/USD
Option=1 The EUR/USD pair has moved lower during the corrective cycle and hit the level of 1.1755, which is the main channel lower line. Any violation of this level will only deepen the correction towards the next key technical support seen at the level of 1.1655. The momentum is below the fifty levels already and the market is coming off the overbought conditions as well, so odds for another wave down are quite high. The nearest technical resistance is seen between the levels of 1.1790 - 1.1813.
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Options 2= If the price manages to break out 1.1700$ and hit support level 1.1650 then we could see some small retracement towards new resistance 1.1700$ where we can see another correction downside towards 1.1560$ and further ore 1.1480$ monthly base chart.
$dollor must stay stronger coming weeks for EURUSD correction.
🛑SUPPORT/RESISTANCE
✅S1= 1.1650
✅S2=1.1560
✴️R1=1.1800
✴️R2=1.1910
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Option=1 The EUR/USD pair has moved lower during the corrective cycle and hit the level of 1.1755, which is the main channel lower line. Any violation of this level will only deepen the correction towards the next key technical support seen at the level of 1.1655. The momentum is below the fifty levels already and the market is coming off the overbought conditions as well, so odds for another wave down are quite high. The nearest technical resistance is seen between the levels of 1.1790 - 1.1813.
👍 Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me
Options 2= If the price manages to break out 1.1700$ and hit support level 1.1650 then we could see some small retracement towards new resistance 1.1700$ where we can see another correction downside towards 1.1560$ and further ore 1.1480$ monthly base chart.
$dollor must stay stronger coming weeks for EURUSD correction.
🛑SUPPORT/RESISTANCE
✅S1= 1.1650
✅S2=1.1560
✴️R1=1.1800
✴️R2=1.1910
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.